Hong Kong Asset Manager Metalpha Receives $5M from Bitmain for Grayscale Fund

HongKong Bitcoin

Bitmain is the biggest company globally that produces cryptocurrency mining equipment.

According to an insider, Hong Kong’s asset management firm, Metalpha, has received $5 million from Bitmain for its Grayscale-based fund.

Metalpha, in collaboration with NextGen Digital Venture Limited, is aiming to raise $100 million for their Next Generation Fund I. So far, they have gathered $20 million by the end of March. The fund invests in Grayscale products using structured derivatives, which allows investors to access popular digital assets in compliance with U.S. and Hong Kong regulations.

Also Read This Related: Hong Kong Securities Regulator Opens License Applications for Crypto Exchanges from June 1st

Grayscale, the company behind digital asset investment products, is owned by Digital Currency Group, which is the parent company of CoinDesk.

Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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